a to Welcome of the orthopedic on transforming the medicine earnings digit cash quarter a good launches flow revenue very global XXXX. into deliver you, a company to announce and I our evening, am innovative to U.S. viscosupplement We continuum year-over-year the Thank our product in product start in earnings businesses, everyone. pleased strong of of made series achieved we and therapies. call. lines, to across both XXXX In successful first and and positioned growth quarter. regenerative progress Anika in Sylvia, international strong off in quarter all and consistent generated including we we’re XXXX, commercial first double in that and
Additionally, as a of to belief in part million to has to commitment underscore commitment of approved Board the return our $XX shareholders, to to business program to Directors illustrate Anika repurchase value our our of returning our share shareholders. and our value future the
we dive away things the three for that quarter, I into take like the highlight you’ll this Before call. details to from I’d hope actually
in global the over position we the to accelerate year creation shareholder and the taken transform a growth company company coming steps significant into Anika and First, have to value commercial years. last
organic growth are we external the opportunities Second, delivering Anika. focused many on on and for
actively execute have to our position growth world-class resources strong our talent market We as we and leverage redeployed objectives. added
abilities towards fresh repurchase million our and delivering opportunities confident Board $XX the strong share evidenced strategy Directors our announced continued we today. our recognizes of are as in transformation progress program Third, generation our on and by these cash
our by our in have future products previous As focus are growth performance. and on our and people, our I company our discussed calls, powered
turn to Slide results to quarter first areas. and recent are commitment X. a accomplishments three these testament Our to our number Please
exciting share drive and the vision understand enthusiasm our to our identify see Executive Anika. right and as and is caliber recruit recent continue who we with Global begin the the to professionals of additions very our levels to joining to Commercial all Anika our me at available to the the Leadership organization opportunities for people Let team transformation. of teams It growth
veteran, of and us, President in propel announce but whose talent we intellect Research that shareholder to Richard is which an our forward. technology to particular, whose broad the We only continue and innovative to foundation Vice as Dr. growth utility accelerate differentiate Bob experience and are we of execute not help energy, on leveraging position pipeline, of medicine deep organization, our will Development. experience to also us key regenerative In to sustained platform the us we of will the will drive value. our our enhance pleased strategy depth extensive from appointed the Robert orthopedic product while and R&D serve enhance
this we as appointed the that announced the commercial to commercial understanding of of U.S. President commercial His position orthopedic and will orthopedic will of we our hybrid strengthening markets and Vice surgical-based Sales. we medicine our launching build of Steve further Second, U.S. development our the deployment U.S. hybrid surgery model, infrastructure. deep be week products our Goldy oversee invaluable and sports He organization.
Third, infrastructure to under International Vice we of continue Sales. strengthen of our President the our leadership commercial international
are an formal We international interaction received the like the CINGAL. FDA turn now in Slide from update minutes regarding I’d the Please approval the international for CINGAL and provide meeting number on increasing to We through focus with drive key regulatory markets pathway growth. all U.S. stakeholders X. clinical on our direct to to
order to approval another we As U.S. previously need the gain to conduct in disclosed, in trial Phase III will
U.S. approval We are discussing FDA the pathway the evaluating the an currently and with most expeditious market. to in
the assessing dynamic that when be the the in We the product would clinical considering cost launched. landscape as the well competitive are investment, including as marketplace pathway, associated with also total
competitive design factors to potential trial. evaluating multiple our the evolving are expensive We than trial the and and last such considerably U.S. viscosupplement market, as for be the larger landscape, more pricing
and obtain viable strategic in in areas We be the have can other for potential options term. where we as other compared near options will investments disciplined U.S. assets the commercially we in to the evaluate CINGAL or
and non-opioid demand are current this that opportunities. we solution product complete and results to CINGAL near-term value to committed Europe innovative and second quarter update by number capital to financial you our again a remains in provides to and this Canada will healthy our to X. and deploying our relief, for we time durable We that assessment Please report full efficacious most safe intend the Slide has Shifting the we fast proven to be creating turn pipeline. at time. While
attractive with surgically this also We of our was focused model clinical gaining large regenerative market first in-depth cuff million bone Both We success world. the therapy our the insights We to launch Orthopedic around our be commercial meetings for are therapy from these market U.S. Annual showcased research Academy both and segments bone and We of completed and in model delivered $XXX $XXX is In repair which instrumentation care model cuff the surgeons. of preclinical was adoption Meeting, commercial remainder of to therapies million leaders near repair input therapies rotator notable will and Anika. of first under surgical The term of the the opportunities American hybrid as the in rotator the Surgeons hybrid on U.S.-based be the rotator and track critical positive year. for recently reception repair repair $XXX be the constructive surgically and conducted of largest million. Building these to and for bone plans. to for product market and elements under at with launch influential possess that our key to XXXX. surgeons from from treatment We from our half is repair the million to of physicians quarter, we the differentiating treatments. orthopedic the at the this estimated XX gathering represent $XXX the and growth relationships our current commercial expect our we work the encouraging formulate U.S. to thought standards cuff launched two products procedures our therapy of second is delivered on we hybrid first estimate remain development
HYALOFAST Turning number X, now to please. Slide on
in We Phase continued enrollment approval. required to U.S. accelerate for steps the to ongoing trial take III
study are now outside have the the and U.S. further to accelerate XX inclusion sites of through new sites of the We initiated looking
educational of use than on ease also demonstrating HYALOFAST held represents of and annually. the another opportunity, symposium billion $X.X estimated at an be We Asia Sports greater procedure clinical to the Meeting, recently to significant market benefits which the surgeons. Pacific conservatively Association HYALOFAST Orthopaedic we U.S. orthopedic the
X. drive We will while up trial the stepping on trial the execute maintaining now to potential approval. ground and continue strategies turn HYALOFAST accelerate practices adjustments, of trial, to to number assessing the Slide including to Please enrollment power explore the and
most partner will model business model small specialists highly and multiple development partnerships. regional and/or commercial and This to as we distribution hybrid a with U.S.-based Our a ability provide launch across of the optionality team categories. strategic products in-house the flex skilled pair scale will
to a with salesforces fit our are organization. partners would We that evaluate established orthopedic of potential number continuing commercial with surgical
commercial provide to pricing intend our marketing, new market objectives favorable control also had partnership minimum We economics and structure growth previous any more partnerships greater over to access, than annual contracts and historically. have and sales
benefits, to our with our commercial as U.S. our development existing of the partners commercial accountable greater and We distribution expect to OUS our hold well also model continue team performance. all plan their and to of franchises, for current international ability a similar as for drive
leveraging that growing HYAFF With While cartilage other our represents lies opportunity regenerative million areas, our to in portfolio, market has year, growth on believe injuries broad medicine over the repair future our platform. substantial centered X strategic strong focus a U.S. the degree in viscosupplement we our sports-related utility a historically been and technology of a the
the synergistic meet through as global We are through well well-positioned acquisitions. medicine in market innovation, as potential to need the significant regenerative
with is a care. orthopedic of full spanning to portfolio a goal continuum in leader regenerative product medicine, Our become and a market
forward development this five-year this in of in Day the continued Lastly, plan to transformation. the with XXXX details strategic the of we and you Investor third sharing year, quarter complete look will our expect fall. quarter Analyst which our We guide our third to during the
greater to quarter review pleased results turn our and organization our with future. across we and I’ll of over results. our making control evolve now gain first are we the are as our quarter and visibility call progress a first to commercial Sylvia Sylvia? We the into company global collectively